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Wednesday, 10 April 19
CHINA'S GROWING THERMAL COAL SUPPLY TO PRESSURE EXPORTERS - FITCH RATINGS
 Growing Chinese thermal coal supply is likely to lead to further tightening of import controls by the government, putting pressure on seaborne coal prices and adding order uncertainties for exporters, Fitch Ratings and CRU say. Miners from Australian and Indonesia are the most exposed, but the credit impact is muted thanks to sufficient rating headroom as we have already incorporated a downward pricing trend in our rating assumptions.
The Chinese coal market’s tightness has eased due to a combination of weaker demand and improved domestic supplies. Chinese coal demand has declined as residential power consumption reduced at the end of the winter heating season in mid-March and hydro supply increased in south China due to heavy rains. Chinese domestic coal supply has gradually improved in recent quarters as the pace of capacity closures has slowed and incremental capacity has been expedited to bring down fuel costs, according to CRU. Inventories at the six main power producing groups edged up to 16.0 million tonnes in late March, 13% higher than the average for 2018 of 14.1 million tonnes.
Growing domestic supply is likely to prompt the Chinese government to tighten control over thermal coal imports. This would imply higher order volatility and risks for seaborne coal suppliers targeting the Chinese market, which are mainly miners in Australia and Indonesia. The Chinese government appears to have adopted an on-and-off importing policy since 2017 by implementing stricter checks when domestic supply is sufficient and speeding up clearing when domestic supply is tight. Australian coal cargoes, for example, have been facing increasing delays clearing customs at Chinese ports since February, according to CRU.
While seaborne coal remains price competitive compared to domestic coal, risks of long clearing time and import bans may discourage Chinese consumers from using seaborne coal, especially when domestic supply is sufficient.
Australian coal producers are likely to face the risk of order cancellation, and to some degree, be forced to compete for sales in alternative countries. This may lead to weak prices in the seaborne market, especially for the mid-content-value coal of around 5,500kcal/kg that Chinese importers typically buy from Australia.
Imports from Indonesia have been less affected by the recent Chinese controls, according to press reports, although Indonesian producers are still likely to come under pressure to find new markets due to overall declining Chinese demand for seaborne coal, as well as increasing Indonesian domestic output, and weaker-than-expected domestic demand.
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Friday, 21 February 20
INDIA: POTENTIAL INVESTORS SEEK MORE CLARITY ON COMMERCIAL COAL MINING NORMS - FINANCIAL EXPRESS
Potential private investors have sought more clarity on the pricing mechanism proposed for the much-anticipated auction for commercial coal mining. ...
Thursday, 20 February 20
CHINA RESUMES OVER 70 PCT COAL PRODUCTION CAPACITY AMID EPIDEMIC - XINHUA
China has resumed 70.2 percent of its coal production capacity with output recovering steadily amid the fight against the novel coronavirus epidemi ...
Thursday, 20 February 20
CHINA THERMAL COAL MARKET FACES 2-3 MONTH CORONAVIRUS SHORT SQUEEZE: NOBLE - REUTERS
China’s domestic thermal coal market faces a 2-3 month short squeeze as a rapidly spreading coronavirus outbreak curtails production more tha ...
Wednesday, 19 February 20
KOREA MIDLAND POWER INVITED BIDS FOR 1 MILLION TONS OF HCV AND LCV COAL FOR Q2- Q4 LOADING
COALspot.com: Korea Midland Power Co. Ltd, (KOMIPO). has issued an international tender for total 1 million MT of coal for April to December 2020 l ...
Wednesday, 19 February 20
GLENCORE WRITES OFF ALMOST $1 BILLION AT COLOMBIAN COAL MINES DUE TO FALLING EUROPEAN IMPORTS: BLOOMBERG
The economic case against European coal is proving too much for even Glencore Plc.
The world’s biggest coal shipper cut the va ...
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- Sarangani Energy Corporation, Philippines
- Leighton Contractors Pty Ltd - Australia
- Interocean Group of Companies - India
- Manunggal Multi Energi - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Tamil Nadu electricity Board
- Marubeni Corporation - India
- Dalmia Cement Bharat India
- Sakthi Sugars Limited - India
- Electricity Authority, New Zealand
- Chamber of Mines of South Africa
- White Energy Company Limited
- Ambuja Cements Ltd - India
- Coastal Gujarat Power Limited - India
- Central Electricity Authority - India
- European Bulk Services B.V. - Netherlands
- Makarim & Taira - Indonesia
- Economic Council, Georgia
- Sinarmas Energy and Mining - Indonesia
- Commonwealth Bank - Australia
- Anglo American - United Kingdom
- MS Steel International - UAE
- Bhatia International Limited - India
- Orica Mining Services - Indonesia
- The University of Queensland
- IHS Mccloskey Coal Group - USA
- Posco Energy - South Korea
- Kartika Selabumi Mining - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Bukit Makmur.PT - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- GVK Power & Infra Limited - India
- Xindia Steels Limited - India
- Heidelberg Cement - Germany
- Karbindo Abesyapradhi - Indoneisa
- ICICI Bank Limited - India
- Kobexindo Tractors - Indoneisa
- Toyota Tsusho Corporation, Japan
- Medco Energi Mining Internasional
- Jorong Barutama Greston.PT - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Renaissance Capital - South Africa
- AsiaOL BioFuels Corp., Philippines
- Asmin Koalindo Tuhup - Indonesia
- Indian Energy Exchange, India
- Riau Bara Harum - Indonesia
- Sical Logistics Limited - India
- GAC Shipping (India) Pvt Ltd
- South Luzon Thermal Energy Corporation
- San Jose City I Power Corp, Philippines
- Energy Development Corp, Philippines
- SN Aboitiz Power Inc, Philippines
- Ceylon Electricity Board - Sri Lanka
- Simpson Spence & Young - Indonesia
- Karaikal Port Pvt Ltd - India
- Standard Chartered Bank - UAE
- OPG Power Generation Pvt Ltd - India
- Power Finance Corporation Ltd., India
- Ministry of Finance - Indonesia
- Jindal Steel & Power Ltd - India
- CIMB Investment Bank - Malaysia
- Wood Mackenzie - Singapore
- Mintek Dendrill Indonesia
- Siam City Cement - Thailand
- Bank of Tokyo Mitsubishi UFJ Ltd
- Star Paper Mills Limited - India
- Australian Commodity Traders Exchange
- Eastern Coal Council - USA
- Vijayanagar Sugar Pvt Ltd - India
- Agrawal Coal Company - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Parliament of New Zealand
- Kapuas Tunggal Persada - Indonesia
- Coal and Oil Company - UAE
- Borneo Indobara - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Altura Mining Limited, Indonesia
- Globalindo Alam Lestari - Indonesia
- Bayan Resources Tbk. - Indonesia
- Global Business Power Corporation, Philippines
- Alfred C Toepfer International GmbH - Germany
- Uttam Galva Steels Limited - India
- Attock Cement Pakistan Limited
- Global Coal Blending Company Limited - Australia
- Semirara Mining Corp, Philippines
- Barasentosa Lestari - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Therma Luzon, Inc, Philippines
- Savvy Resources Ltd - HongKong
- Rio Tinto Coal - Australia
- Essar Steel Hazira Ltd - India
- Energy Link Ltd, New Zealand
- Mercator Lines Limited - India
- Larsen & Toubro Limited - India
- Binh Thuan Hamico - Vietnam
- Videocon Industries ltd - India
- LBH Netherlands Bv - Netherlands
- Metalloyd Limited - United Kingdom
- Kohat Cement Company Ltd. - Pakistan
- The State Trading Corporation of India Ltd
- Oldendorff Carriers - Singapore
- ASAPP Information Group - India
- Maheswari Brothers Coal Limited - India
- Planning Commission, India
- Iligan Light & Power Inc, Philippines
- Samtan Co., Ltd - South Korea
- SMG Consultants - Indonesia
- Siam City Cement PLC, Thailand
- Offshore Bulk Terminal Pte Ltd, Singapore
- International Coal Ventures Pvt Ltd - India
- Indo Tambangraya Megah - Indonesia
- Jaiprakash Power Ventures ltd
- Sindya Power Generating Company Private Ltd
- London Commodity Brokers - England
- Meenaskhi Energy Private Limited - India
- PowerSource Philippines DevCo
- Minerals Council of Australia
- Bhoruka Overseas - Indonesia
- Cement Manufacturers Association - India
- Neyveli Lignite Corporation Ltd, - India
- Madhucon Powers Ltd - India
- Bhushan Steel Limited - India
- Billiton Holdings Pty Ltd - Australia
- Electricity Generating Authority of Thailand
- Romanian Commodities Exchange
- Intertek Mineral Services - Indonesia
- The Treasury - Australian Government
- Parry Sugars Refinery, India
- Formosa Plastics Group - Taiwan
- New Zealand Coal & Carbon
- Bukit Baiduri Energy - Indonesia
- Kumho Petrochemical, South Korea
- Gujarat Electricity Regulatory Commission - India
- VISA Power Limited - India
- Edison Trading Spa - Italy
- PNOC Exploration Corporation - Philippines
- Krishnapatnam Port Company Ltd. - India
- Ministry of Transport, Egypt
- SMC Global Power, Philippines
- Petron Corporation, Philippines
- Carbofer General Trading SA - India
- Georgia Ports Authority, United States
- Wilmar Investment Holdings
- IEA Clean Coal Centre - UK
- Ind-Barath Power Infra Limited - India
- Merrill Lynch Commodities Europe
- Goldman Sachs - Singapore
- Directorate General of MIneral and Coal - Indonesia
- Global Green Power PLC Corporation, Philippines
- Thiess Contractors Indonesia
- Bangladesh Power Developement Board
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Directorate Of Revenue Intelligence - India
- Holcim Trading Pte Ltd - Singapore
- Thai Mozambique Logistica
- TNB Fuel Sdn Bhd - Malaysia
- Bulk Trading Sa - Switzerland
- Trasteel International SA, Italy
- Eastern Energy - Thailand
- Price Waterhouse Coopers - Russia
- Gujarat Mineral Development Corp Ltd - India
- Orica Australia Pty. Ltd.
- Baramulti Group, Indonesia
- Vizag Seaport Private Limited - India
- Straits Asia Resources Limited - Singapore
- Antam Resourcindo - Indonesia
- Indogreen Group - Indonesia
- Pendopo Energi Batubara - Indonesia
- Australian Coal Association
- Gujarat Sidhee Cement - India
- Sree Jayajothi Cements Limited - India
- Aboitiz Power Corporation - Philippines
- Coalindo Energy - Indonesia
- Latin American Coal - Colombia
- Tata Chemicals Ltd - India
- Salva Resources Pvt Ltd - India
- Deloitte Consulting - India
- Mercuria Energy - Indonesia
- Kaltim Prima Coal - Indonesia
- PTC India Limited - India
- Malabar Cements Ltd - India
- Meralco Power Generation, Philippines
- Ministry of Mines - Canada
- Africa Commodities Group - South Africa
- Indonesian Coal Mining Association
- McConnell Dowell - Australia
- Semirara Mining and Power Corporation, Philippines
- Indika Energy - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Central Java Power - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Maharashtra Electricity Regulatory Commission - India
- Banpu Public Company Limited - Thailand
- Chettinad Cement Corporation Ltd - India
- CNBM International Corporation - China
- GMR Energy Limited - India
- Indian Oil Corporation Limited
- Kideco Jaya Agung - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Singapore Mercantile Exchange
- Vedanta Resources Plc - India
- Miang Besar Coal Terminal - Indonesia
- Port Waratah Coal Services - Australia
- TeaM Sual Corporation - Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Mjunction Services Limited - India
- Grasim Industreis Ltd - India
- Timah Investasi Mineral - Indoneisa
- Kepco SPC Power Corporation, Philippines
- Lanco Infratech Ltd - India
- Independent Power Producers Association of India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Sojitz Corporation - Japan
- Aditya Birla Group - India
- India Bulls Power Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bharathi Cement Corporation - India
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